TSX:STB.DB.A - Post by User
Comment by
PaulKingon Mar 02, 2017 12:10pm
311 Views
Post# 25920062
RE:STB up 1.5% today, and a great yield of about 7.8%
RE:STB up 1.5% today, and a great yield of about 7.8%Your information is incorrect. They have NOT raised their dividend since inception 10 years ago. They recently converted it to US dollars, initially to the obvious detriment of the Canadian shareholder - essentially LOWERING the dividend. They got lucky when the Canadian dollar fell more, and it is in the end - through no 'fault' of the company - by accident a small raise for Canadian investors from currency exchange only. Dennis (CEO) had remarked a few years ago he wouldn't be raising the dividend until the share price was much higher. In essence, don't expect a dividend increase anytime soon. Don't misconstrue my comments. Other than the poor treatment by management of Canadian shareholders I mentioned, I like the company, am long with a full position, and will most likely stay that way. If management doesn't do any other funny stuff, they have a good 'moat', as Warren Buffet or Phil Town would say. The kids will be going to school regardless of the economy.